Res 2018-139/Public Hearing on Resolution 2018-139R, approving a notice of the 2018 amended and restated service and assessment plan with Highpointe Trace, LLC. in connection with the Trace Public Improvement District

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Section V SERVICE PLAN The PID Act requires a service plan to (i) cover a period of at least five years, and (ii) define the annual projected costs and indebtedness for the Public Improvements undertaken within the PID during the five year period. It is anticipated that it will take approximately 18 months for the Public Improvements to be constructed. The estimated cost for the Public Improvements is $22,386,420 as shown in Table V-A. The service plan shall be reviewed and updated at least annually for purposes of determining the annual budget for Administrative Expenses, updating the costs of the Public Improvements, and updating Assessment Roll shown on Appendix A. Table V-A summarizes the sources and uses of funds required to construct the Public Improvements. The sources and uses of funds shown in Table V-A shall be updated each year in the Annual Service Plan Update. TABLE V-A Sources and Uses of Funds SOURCES Initial Special Assessment (a)$ 11,175,000 Additional Special Assessment (a) 10,925,000 Developer Contribution (b) 286,420 $ 22,386,420 USES Public Improvements$ 22,386,420 Debt Service Reserve Fund (c) - Capitalized Interest (c) - Underwriter Discount (c) - Cost of Issuance (c) - $ 22,386,420 (a) Subject to Acquisition and Reimbursement Agreement (b) Not subject to Acquisition and Reimbursement Agreement (c) To be determined at time Major Improvement PID Bonds are issued. The projected Annual Installments for the first five years after the approval of this 2018 SAP are presented in Table V-B. The projected Annual Installments are subject to revision and shall be updated in the Annual Service Plan Update. 15